Access Investment Management LLC Cuts Holdings in Rithm Capital Corp. (NYSE:RITM)

Access Investment Management LLC lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,000 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. Access Investment Management LLC’s holdings in Rithm Capital were worth $1,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC grew its position in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 951 shares in the last quarter. Summit Trail Advisors LLC grew its position in Rithm Capital by 2.0% in the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 967 shares in the last quarter. Apollon Wealth Management LLC grew its position in Rithm Capital by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 53,856 shares of the real estate investment trust’s stock worth $583,000 after acquiring an additional 1,211 shares in the last quarter. Empowered Funds LLC grew its position in Rithm Capital by 8.3% in the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Essex Financial Services Inc. grew its position in Rithm Capital by 8.1% in the fourth quarter. Essex Financial Services Inc. now owns 17,131 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 1,277 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RITM has been the subject of several analyst reports. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Piper Sandler raised their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.07.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.89 on Friday. The company has a 50 day moving average price of $11.31 and a 200-day moving average price of $11.19. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.10. The company has a market capitalization of $6.19 billion, a PE ratio of 7.12 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.41%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is 59.88%.

Rithm Capital Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.